Posted on: 17th Sep, 2010 11:02 pm
i want to get married to a man who is about to strategically foreclose/walk away from his home. we live in a non-recourse state, so i'm absolutely ok with his strategy. however, in looking to the future, i also want to co-own a home with him upon marriage. he can borrow money from his investments. i will be paying cash for my portion. is there any risks i should be aware of?
Hi sandi,
You should check out whether or not your name will be mentioned in the property deed. If your name is not mentioned on the property deed, then though you make payments toward the loan, you won't be considered as the owner of the property.
Thanks
You should check out whether or not your name will be mentioned in the property deed. If your name is not mentioned on the property deed, then though you make payments toward the loan, you won't be considered as the owner of the property.
Thanks